Tiger Fund invests $14.5M more in Indian etailer Flipkart

The US-based hedge fund, Tiger Fund, increased its equity holding in India's leading etailer Flipkart by buying 54,596 shares of its co-founder Binny Bansal for an estimated $14.5 million (Rs 104 crore), business intelligence platform Paper.vc said on Monday.

"Regulatory filings by Flipkart indicate that Binny sold a tranche of shares for the third time since the global retail giant Walmart's takeover of the e-commerce company in May 2018," Chennai-based Paper.vc told IANS in a statement.

The $514-billion Walmart acquired majority stake (77 per cent) in the city-based Flipkart on May 9, 2018 for a whopping $16 billion (Rs 107,662 crore) at $67.3 per share.